Earlier calls for a 4% decline in 2024 were overtaken by events as precious metals surged; the World Bank subsequently projected silver averaging about $26/oz in 2025 (roughly a 4% rise from 2024), a level that has been exceeded by actual market prices year-to-date. Citigroup maintains a $40/oz silver price target for 2025, citing persistent supply deficits and accelerating industrial consumption in the solar/EV sectors, with support seen from buyers eyeing value after bouts of May volatility. They argued that silver would rally in anticipation of the fall in U.S. interest rates and real yields that would likely accompany an anticipated rollover in U.S. growth in 2025 and prices have already pushed above $35/oz into mid-year. This dynamic tends to weigh on the dollar, with a price target of $40 for silver in 2025 driven by robust industrial demand and monetary movements.Commerzbank’s 2025 outlook centers on the low-$30s by year-end, noting reduced ETF outflows and stronger-than-expected photovoltaic demand. They note that adverse factors such as high interest rates and weaker investment demand are fading in 2025 and that strong industrial demand will boost prices. The Silver Institute’s World Silver Survey 2025 confirms silver remains in a seventh consecutive year of structural deficit, with prices supported by strong industrial demand and renewed safe-haven buying amid ongoing tariffs and geopolitical tensions.
The silver spot price had climbed from about $28.90 to roughly $37–$38 per ounce since the start of the year, as persistent supply deficits and strong demand from solar and electronics tightened the market. Higher interest rates tend to be bearish for precious metals, as investors opt for interest-bearing savings accounts and other assets that generate guaranteed returns, but the 2024–2025 rally unfolded despite elevated real yields as investors diversified alongside gold. Silver is both an investment and is consumed in the manufacture of jewelry, electronics, electric vehicles, and solar panels, which have been gaining traction amid the global green energy transition. Silver price has confirmed the bullish breakout pattern, up nearly 30% year-to-date to about $37.50/oz on persistent supply deficits and strong industrial demand.
Silver outpaces gold’s rise
- The report advised that investing in precious metals, particularly silver, should be encouraged in the second half of 2025 due to the anticipated decline in yields, especially in real terms, with the first cuts expected as early as September.
- As such, analysts now highlight industrial demand and geopolitical factors as key drivers for 2025 prices, alongside silver’s recent consolidation near the mid-$30s.
- When considering silver price predictions, it’s important to remember that high market volatility makes it difficult to give long-term estimates.
While analysts are typically cautious in issuing long-term forecasts for commodities, algorithm-based forecasting services regularly provide price outlooks for more extended periods. The main scenario favors continuation of the broader bullish trend, provided price holds above the $35.00 level. If the current consolidation evolves into a base, silver may attempt another breakout above $39.50, which could open the way toward the psychological $40.00 level and beyond. However, the extent of silver’s recovery will depend on how China’s uneven economic recovery continues to support silver demand, particularly from electronics and solar, the report said.
But while the market held between $35 to $38 into early August, it cooled modestly as the dollar firmed, and some profit-taking emerged. The price then jumped to an eight-year high in February 2021, briefly touching the $30 per ounce psychological level, as the market attracted the attention of retail investors. The silver price reached a $28 high in August 2020 and ended the year around the $26 mark. When considering Silver price predictions for 2025 and beyond, it’s important to keep in mind that high market volatility and the macroeconomic environment make it difficult to produce accurate long-term Silver analyses and estimates.
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Krauth has a model that forecasts that gold’s price will rise to $5,000 by 2030, which would drag silver’s price up to $300, whereas major houses now look for gold nearer $4,000 by late 2025 or early 2026 and keep long-run silver targets far below $300. Bank of America’s commentary has highlighted silver’s role in electronics and data infrastructure, but recent public materials do not quantify an 18% demand growth figure from chipmakers and data centers; in practice, safe-haven buying has been the dominant driver this year, with industrial demand signals mixed. Looking at the historical price action, silver spent much of 2022 and early 2023 consolidating in a broad range below $27.50 before gradually shifting into an uptrend through 2023. The price broke above the moving averages decisively in late 2023 and has been making higher highs and higher lows since then.
This trend has persisted amid slowing global economic growth in 2025, intermittent mild recession risks, and a mid-year uptick in inflation. There are reasons to believe that silver prices could increase in the next days and weeks, including a fifth consecutive year of supply deficits and strong industrial demand, as well as safe-haven demand in a landscape dominated by geopolitical uncertainties. Silver prices and precious metals in general were weighed in 2022–2023 by elevated real yields amid the view that interest rates would remain higher for longer given stubborn inflation. As inflation has eased and central banks, including the Fed, have shifted toward accommodation, real rates have tempered, reducing the opportunity cost of holding non‑yielding precious metals such as silver and allowing supply/demand fundamentals and industrial demand to take the lead. The continuous futures contract for silver ended 2022 at $23.97 per ounce, up 3.7%, and as of August 20, 2025, it is trading around $37–$38 per ounce.
Silver prices have remained supported by industrial demand and geopolitical uncertainties, with potential for further gains if resistance at $32.50 is breached, though as of August 2025 it continues to cap rallies. The gold/silver ratio suggests the silver price is likely to rise according to market watchers and supports the bullish silver price predictions for the next 5 years, even though the anticipated sharp ratio compression has not yet taken place in 2025. According to recent analyses, the global silver market has remained in a significant deficit in 2025, silver has outperformed gold in terms of gains. Silver price (XAG/USD) could rise above $50 given the ongoing emphasis on the energy transition and faster global development, according to the latest silver price predictions and forecasts from analysts and online AI-based forecasting agencies. There are reasons to believe that silver prices could decrease in the next days and weeks, including a stronger US dollar, shifting interest-rate expectations, and geopolitics, that may trigger risk -aversion, even though gains have been strong year-to-date (nearly 30% as of August).
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The World Silver Survey, which was issued in mid-April, indicates that the worldwide industrial demand for silver has reached a new record high this year, contributing to the shortage. Overall global demand for silver “massively exceeded” supply last year, with that deficit extending into a fifth consecutive year in 2025, with the shortfall estimated at around 149 million ounces, according to the Silver Institute’s World Silver Survey. We look at the factors affecting the silver market and where investors should expect the market to move next, including some of the latest silver forecasts & price predictions from analysts. The price of silver is expected to remain strong in 2025, with most forecasts clustering around US$31 to US$40 per ounce, driven by ongoing geopolitical issues and significant economic developments, according to major analysts, with some seeing potential toward US$38–US$40. Our demo account is a suitable place for you to learn more about leveraged trading, and you’ll be able to get an intimate understanding of how trading and investing work – as well as what it’s like to trade with leverage – before risking real capital. For this reason, a demo account with us is a great tool for stock investors who are looking to make a transition to leveraged trading.
They report that global silver demand is tracking near 1.15 billion ounces in 2025—down about 1% year over year to a four-year low—with industrial uses now accounting for nearly 60% of total demand. After a 22% drop in physical investment to a five-year low in 2024 (190.9 million ounces), the global silver supply gap narrowed by roughly 21% in 2025 to about 118 million ounces. Silver mine production has increased only modestly in recent years and still does not keep pace with the rising industrial and investment demand. Given the rise in silver prices in 2025—up about 32% to $38, a 14-year high—analysts from the Silver Institute and other financial institutions anticipate further gains, supported by industrial demand and ongoing supply constraints. The progress of the Middle East and https://traderoom.info/naga-broker-overview/ Russian conflicts is also a key factor for metal prices, as currently, silver is also seeing some safe-haven demand, as the crises continue.
The long-term bullish structure was confirmed when the market broke through the $30 psychological level and held above it, leading to an accelerated move higher in 2024. Such a dovish monetary shift is anticipated to further support investment in precious metals like silver. According to the Silver Institute, industrial demand for silver hit a record near 680 million ounces in 2024 and held roughly steady in 2025, not yet surpassing 700 million ounces, while the silver supply gap continued to remain substantial. The survey also highlighted the positive impact of China’s economic recovery in 2025 on the local economy, which has significantly enhanced base metal pricing and increased industrial demand for silver this year. Still, silver has managed to outpace gold’s rise year to date, with silver up around 32% and gold up around 28.5%, according to the latest market data and spot pricing as of August 20, 2025.
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- Supported by higher-than-expected US inflation data, it has put back into the discussion about when the Federal Reserve would begin to ease monetary policy, which it has not yet done as of August 2025.
- After a 22% drop in physical investment to a five-year low in 2024 (190.9 million ounces), the global silver supply gap narrowed by roughly 21% in 2025 to about 118 million ounces.
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- Silver price has confirmed the bullish breakout pattern, up nearly 30% year-to-date to about $37.50/oz on persistent supply deficits and strong industrial demand.
- As inflation has eased and central banks, including the Fed, have shifted toward accommodation, real rates have tempered, reducing the opportunity cost of holding non‑yielding precious metals such as silver and allowing supply/demand fundamentals and industrial demand to take the lead.
- The website saw the precious metal closing in 2024 at the $27 mark, a projection that is now largely treated as outdated context rather than current guidance.
It suggests that silver is extremely undervalued relative to gold, it suggests that it’s a matter of time until spot silver starts reacting to the upside or gold to the downside, though the precise timing remains uncertain. The higher the ratio the more undervalued silver tends to be relative to gold; the lower the ratio the more overvalued silver is to gold. In this section, we explain how experts derive their bullish silver forecast, relying on the CFTC’s weekly CoT positioning—commercials net short, speculators net long—amid 2025 all-time highs and a recent pullback in managed-money longs. You can see that while many are moderate to strongly bullish, there is some disparity among the silver price predictions for 2025, with several banks centering on $33–$41 and some technical work flagging a possible breakout toward $50 by early 2026 if $38–$41 resistance is cleared. Wallet Investor’s silver price forecast for 2024 was neutral, but it has since been superseded by more current outlooks. The website saw the precious metal closing in 2024 at the $27 mark, a projection that is now largely treated as outdated context rather than current guidance.
While not confirmed as the second highest on record, 2022’s deficit of 263.5 million ounces still marks a record high. With NAGA.com you can trade Silver through CFDs (XAG/USD) if you want to speculate on price movements or invest in silver mining stocks and ETFs.
Silver production in the United States surged with the Comstock Lode in Nevada, discovered in 1859, and peaked in the late 19th century; by the end of that century, humans produced more than 120 million troy ounces every year. Any American dimes, quarters, half dollars, or dollar coins with a date of 1964 or earlier contain 90% silver. If the price of silver is about $29 per ounce as of August 2025, these silver coins are worth approximately 21 times their face value in the precious metal content alone. A silver dime is worth roughly $2.10, whereas a silver dollar is worth about $22.40 at a $29-per-ounce price.
Supported by higher-than-expected US inflation data, it has put back into the discussion about when the Federal Reserve would begin to ease monetary policy, which it has not yet done as of August 2025. As such, analysts now highlight industrial demand and geopolitical factors as key drivers for 2025 prices, alongside silver’s recent consolidation near the mid-$30s. The World Bank’s April 2025 Commodity Markets Outlook shows silver prices trending sharply higher, with spot near $37.20/oz as of August 20, 2025 (roughly 25% higher year-over-year), outperforming base metals on safe-haven demand and investment flows, following a decline of over 20% in 2023.
The report advised that investing in precious metals, particularly silver, should be encouraged in the second half of 2025 due to the anticipated decline in yields, especially in real terms, with the first cuts expected as early as September. A high gold-to-silver ratio—which has remained elevated in 2025—will also “attract some investors who view silver as undervalued over the long term, perhaps also as its strong fundamentals gain attention,” according to the silver outlook for 2025, despite the recent decline. According to the report, investor interest in silver increased in the first half of 2025, with sizable net inflows into silver-backed ETPs, driven by expectations of a rate-cutting cycle as reiterated by the US Federal Reserve, alongside improving demand in Europe and North America.
Silver Forecast & Price Prediction – Summary
Since both are considered monetary metals, they usually move together—which can give us clues when the ratio gets stretched in one direction or the other. When considering silver price predictions, it’s important to remember that high market volatility makes it difficult to give long-term estimates. In his book, “The Great Silver Bull,” Peter Krauth derived a valuation of $300 silver through technical analysis, a view that sits well outside today’s consensus.
The precious metal saw an outstanding few weeks towards the end of 2022, with a weekly gain of about 4.7% and a monthly gain of about 14.4%. This was in part due to speculation about China loosening its zero-Covid policy at the time, even though official statements denied it; since then, the key drivers have shifted to persistent supply deficits, robust industrial demand (notably from solar and electronics), and renewed investor interest. The price briefly eased toward the mid-$36s in early August but then stabilized around the $37–$38 area, closely following the trajectory of the gold price. Silver traded up from around $29 per ounce in early January to an intraday high near $39.91 in late July, a peak so far this year, as the market responded to ongoing supply deficits and surging green-technology demand.